The Asian Development Bank on Friday said it has approved a $500 million policy-based loan to help the Philippines expand opportunities in agriculture while ensuring near to long-term food security.
It also aims to enhance public services and finance for the sector as well as social protection for rural families, the Manila-based multilateral lender said. “This new loan aims to support the Philippines’ efforts to attain food security by building a competitive and inclusive agriculture sector that is characterized by improved efficiency, enhanced diversity, strengthened climate resilience, and higher farm incomes.”
The subprogram will also support the government in enhancing the planning and management of land use and water resources, it added.
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